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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InUOB Global Economics & Markets Research reported a steep selloff in gold and other precious metals. This sharp reversal follows a period of strong prior gains for the commodities. The decline is primarily attributed to AI-related risk aversion impacting broader markets. Additionally, algorithmic trading and significant profit-taking activities contributed to the downward pressure. This confluence of factors led to a notable market event for precious metals.